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PREPARE THE SALES BUDGET, BASED ON THE INFORMATION PROVIDED Klean Steppers A group of students at the University of Technology, Jamaica recently won an award
PREPARE THE SALES BUDGET, BASED ON THE INFORMATION PROVIDED
Klean Steppers A group of students at the University of Technology, Jamaica recently won an award in the annual UTech, Ja Business Model Competition for their invention, a white dirt-proof sneaker for children in kindergarten. This invention arose from complaints from parents about having to buy white sneakers for their child/children for physical education that soils easily. As a result of the invention, the students decided to start a business, Klean Steppers' to start production. The sneakers have an innovative design and are made of a robust leather and cushioning material, which heightens the resistance to dirt and dust. The following information was discussed at a meeting with the Klean Steppers team. Sales and collections The sneakers are designed for girls and boys. Details of selling prices and projected sales in pairs of sneakers for the four-month period are shown below: Type Selling price Months August September 290 320 230 280 Girls Boys July 250 195 $2500 $2900 October 190 160 It is expected that all sales will be on credit to department stores in Jamaica. It is estimated that 30% of customers will pay within one month while the remaining customers will pay the month following saleStep by Step Solution
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